WEX
The following Flexible Spending Accounts are administered by WEX. Visit any time of day or night, 24/7 by logging in to your online account on www.wexinc.com or call 1-866-451-3399.
Flexible Spending Accounts help you pay for everyday expenses on a pre-tax basis. The FSA year is January 1 – December 31 and is a “use it or lose it” account. You have a 60-day grace period after December 31st to submit all claims that occurred during the current flex year. You are allowed a minimum of $50 up to a maximum of $640 carry-over balance into the next flex benefit year. Note that current participants must re-enroll each year in order to continue participating in the flex program.
LIMITED PURPOSE FSA
A pre-tax benefit of up to $3,050 is used to pay for eligible dental and vision care expenses only. Participants enrolled in a High Deductible Health Plan (HDHP) are eligible to enroll in both Limited Purpose FSA and HSA plans at the same time to maximize their savings from the pre-tax contributions.
MEDICAL FSA
If you are NOT enrolled in the Wahpeton HDHP medical plan or are enrolled in your spouse’s or parent’s Traditional Medical Plan, you can set aside pre-tax contributions for medical, dental, and vision expenses not paid by your (or your spouse’s) insurance plans up to $3,200. You may not have both a Medical FSA and HSA being funded at the same time.
DEPENDENT CARE FSA
You can set aside pre-tax contributions for dependent care expenses up to $5,000 per plan year, if filing jointly, or $2,500 if filing single.